RiktigHandel is a distributor of tools and equipment used for rock removal and drilling, without the use of dynamite.
RiktigHandel is a Norwegian-based distributor of tools and equipment used mainly in rock removal and drilling without the use of dynamite. With customers all across Norway, their mission is to sell high-quality products with an excellent, personalised customer experience.
Originally started as a side project in 2016 by Jørgen Bertelsen, RiktigHandel has since seen considerable growth. In fact, they now even have plans to move to a larger warehouse next summer!
Aiming to double their revenue in just a few short years, RiktigHandel has big ambitions. And by all accounts, they’re well on their way to becoming a key player in the rock removal space.
Initially selling to farmers and other consumers, RiktigHandel’s main business comes from B2C. But as they’ve continued to grow, they’ve recently generated more interest from businesses.
Many construction and heavy machinery companies, for example, need RiktigHandel’s product range to do their job safely and accurately. However, selling to businesses requires a different approach.
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The challenge
Like many businesses in the industry, RiktigHandel previously offered an invoicing payment method. But managing this in-house generated a huge amount of work. Other than keeping track of paperwork, their third party payment provider didn’t specify VAT sufficiently for their business customers.
This meant separate specifications for VAT and original invoices had to be manually sent out, in addition to the initial invoice from the payment provider.
Despite this, he knew RiktigHandel’s customers wouldn’t be happy with alternative payment methods. “Our customers have actually requested a better B2B payment solution to avoid paying on credit card or Vipps, it doesn’t really work for B2B” Jørgen says. But faced with 20 additional hours of manual work a month, processing B2B sales was anything but easy.
An explosive result! (Without the dynamite)
Almost immediately after implementing the Two Checkout, Jørgen started seeing results!
“The main reason we chose Two as our B2B payment solution is because our previous methods created a lot of manual work. We no longer have an issue with that, which is something I’m very happy with.”
As a result, RiktigHandel was able to abolish manual work completely. Two automatically reconciles payments for invoices, performs instant credit checks for B2B customers, and takes on all risk, including fraud. What’s not to love?!
Reduced manual work wasn’t the only benefit Jørgen experienced. “We’ve seen an increase of B2B customers that choose to purchase online instead of calling us because the checkout process is better”.
When we chatted with Jørgen, he explained that after offering Two as a payment method “their order completely changes”. Here’s why:
RiktigHandel often receives calls from customers asking if they had a particular item in stock. Once this is confirmed, the customer orders and the sale closes. But after using the Two Checkout, RiktigHandel saw an AOV increase of 128% in the first month!
“By moving customers online, they’re able to see other things on our website they may also need. That means their average order value increases because they have access to our other products and are able to checkout with terms that suit them.”
The future of Riktig
Looking to the future, Jørgen thinks the majority of their business can come from B2B sales, given the huge potential. Currently, their B2B sales account for around 40% of all business but he predicts it could increase to as much as 80-90%!
Impressively, they’ve achieved these increases without even announcing that they offer the Two Checkout. With plans to launch a number of new products in 2023, we can’t wait to see what they achieve next year.
Implementing Two into RiktigHandel’s workflow was handled by Two’s partner, 24NettButikk. This allowed Riktig to start using Two straight away for a smooth set up process. You can learn more about Two’s partnership with 24Nettbutikk here.
Two - The Complete B2B Payment Suite
Selling B2B with Buy Now, Pay Later can be incredibly complex. But it doesn’t have to be. With Two’s B2B payment suite, you can increase conversion rates and average order value while eliminating admin and offsetting credit risk.
Whether you want to supercharge your B2B e-commerce checkout for guest purchases, optimise your trade account with frictionless onboarding, or offer B2B BNPL on all sales channels - Two is here to help.
Two’s payment technology enables businesses across all industries to offer purchasing on invoice, providing a frictionless checkout experience with instantly approved credit. Our revolutionary B2B solutions simplify the payment journey so businesses can access working capital and increase B2B sales while reducing time consuming operational work.
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